Regulatory impact matters.

Provides that, as part of the fiscal and management analysis of a bill, the legislative services agency shall indicate in the statement of fiscal impact prepared for the bill whether the bill includes one or more specified regulations affecting businesses. Requires the small business ombudsman, in coordination with the Indiana economic development corporation, the office of management and budget, and the department of workforce development (DWD), to submit: (1) an executive summary listing each state agency that may issue a license, and each of the specific license types that may be issued by each state agency; (2) an executive summary concerning the comparative advantages of regions across the state and strategies to promote small businesses and entrepreneurship; and (3) an executive summary with recommendations regarding regulatory oversight. Requires the Indiana professional licensing agency (IPLA) to prepare an executive summary concerning the portability and reciprocity of Indiana occupational licenses relative to other states. Requires the department of education (DOE), in coordination with the commission for higher education (CHE), to submit to the legislative council and the interim committee on commerce and economic development: (1) a report concerning the portability and reciprocity of Indiana teaching licenses relative to other states; and (2) an executive summary, and any recommendations, concerning portability and reciprocity of Indiana teaching licenses relative to other states. Requires the IPLA to: (1) identify bills enacted in the 2020 and 2021 legislative sessions that affect the portability and reciprocity of Indiana licenses relative to other states; and (2) issue to: (A) the legislative council; and (B) the interim committee on commerce and economic development; a report concerning the effect of the bills on the portability and reciprocity of Indiana licenses relative to other states. Requires the Indiana state board of education (state board), in consultation with the DOE, to issue an executive summary during the 2020 and 2021 legislative interims regarding: (1) guidance issued by the state board and by the DOE; (2) administrative rules proposed, adopted, amended, or repealed by the state board and by the DOE; and (3) executive orders and directives pertaining to K-12 education; in 2020 and 2021. Requires the CHE, in collaboration with the governor's workforce cabinet (GWC) and the DWD, to issue an executive summary during the 2020 and 2021 legislative interims regarding: (1) guidance issued by the CHE, by the GWC, and by the DWD; (2) administrative rules proposed, adopted, amended, or repealed by the CHE, by the GWC, and by the DWD; and (3) executive orders and directives pertaining to postsecondary education; in 2020 and 2021. Urges the legislative council to assign to an appropriate interim study committee the topic of relocation and talent incentives, and specifies issues the study must encompass.